A collusion breaks down if ________
A) a firm charges a price higher than the price set by the other colluding firms
B) a firm charges a price lower than the price set by the other colluding firms
C) the price set by the colluding firms equals the marginal cost of production
D) the price set by the colluding firms exceeds the marginal cost of production
B
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The law of increasing costs is based on each of the following, except
A. the law of scarcity. B. the law of diminishing returns. C. diseconomies of scale. D. factor suitability.
Interest on the national debt, as a percentage of federal expenditures, has increased significantly since 1965.
A. True B. False C. Uncertain
Durable goods are expected to last for at least 10 years.
Answer the following statement true (T) or false (F)
The single most important reason for Canada's seeking a free trade agreement with the United States was to
A) ensure its access to the U.S. market. B) ensure its ability to join NAFTA. C) harmonize its environmental laws with the United States. D) avoid international outsourcing in low wage countries.